JPMorgan Chase & Co. Issues Pessimistic Forecast for Zai Lab (NASDAQ:ZLAB) Stock Price

Zai Lab (NASDAQ:ZLAB) had its price target decreased by JPMorgan Chase & Co. from $39.00 to $32.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 71.95% from the company’s current price.

A number of other brokerages have also commented on ZLAB. Jefferies Financial Group upgraded shares of Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. Zacks Research downgraded Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Cantor Fitzgerald lowered their target price on Zai Lab from $55.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. UBS Group initiated coverage on Zai Lab in a report on Wednesday, January 7th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.00.

Zai Lab Price Performance

Zai Lab stock opened at $18.61 on Wednesday. The business has a 50 day moving average of $18.69 and a 200-day moving average of $22.81. Zai Lab has a 1 year low of $15.96 and a 1 year high of $44.34. The company has a market capitalization of $2.10 billion, a P/E ratio of -11.56 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Thursday, February 26th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.02). Zai Lab had a negative return on equity of 22.81% and a negative net margin of 38.15%.The business had revenue of $127.60 million for the quarter, compared to analyst estimates of $122.67 million. Equities analysts anticipate that Zai Lab will post -2.58 EPS for the current year.

Insider Transactions at Zai Lab

In other Zai Lab news, CFO Yajing Chen sold 1,703 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $18.63, for a total value of $31,726.89. Following the transaction, the chief financial officer owned 19,999 shares in the company, valued at approximately $372,581.37. This represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rafael Amado sold 2,957 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $18.63, for a total value of $55,088.91. Following the completion of the sale, the insider directly owned 44,757 shares of the company’s stock, valued at $833,822.91. This trade represents a 6.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 17,413 shares of company stock valued at $311,460. 4.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zai Lab

An institutional investor recently raised its position in Zai Lab stock. SG Americas Securities LLC increased its position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,396 shares of the company’s stock after purchasing an additional 642 shares during the period. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent quarter. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

Zai Lab Company Profile

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.